Opinion: NYU’s Sweet Perks for Professors

Assistant OpinionJournal.com editor Allysia Finley on why NYU is doling out vacation home loans to university executives and professors.

This transcript has been automatically generated and may not be 100% accurate.

... welcome back to Opinion Journal why Mary Kissel well it is summertime in New York which means that everyone from the elites ... so the point pulling heads to the beaches on Friday ... but the folks in and wine you in the faculty lounge are heading to some really nice places ... courtesy of ... NYU students and guess what folks taxpayers ... assists in OpinionJournal dot com editor Elisa Finlay joins me now to explain all of this ... I is so really sure ... what ... perks exactly do these professors in executives and when you get a lot of them being the sweetheart Monday ... it's ... a one point four million dollars for now Treasury Secretary Jack Lew would use their ... John sexed an ad Parent the guy to run a one million dollar loan deal ... and love these up homes are I happen to be in the Hamptons or fire I a while so it's not just the salaries they're actually getting vacation homes ... up out on long Island some the most expensive properties in long Island as I it's including this for their own called compensate okay I wanna put up a quote from the NYU spokesman see how they ... react to this news which is which is pretty incredible and I quote ... the purpose of our long ... write to the heart of several decades of sustained and successful effort in NY in ... the transforming minute from the regional university ... into a world class research on residential ... university that suddenly spokesman John Beckman ... I'm you know they resent reversing that residents is at the beach God ... he said ... yes the amazing and why is it the universe easily and when you are rolling in all this money ... while all one as well these are nonprofits ... okay so they are tax exempt the tax exempt and downs which are funded by tax deductible the notion and donations ... SEC games ... all these Pell grants and student loans you know some space by the government coming in ... so it's really funded by tax cut is ... that selling to reassess connecting the dots and so ... the Obama administration Nationalizes Toowong Mr. Mason seniors students take all the money ... and then the NYU says raises the two entrances give us give us the money this deal is the money will get that means you won't ... get into our professors okay ... he's the EU the only university ... that is able to do this and how why pick on them ... unfairly or are there any university students ... this is become a bit of an arms race at at height meager ideally college is another haircare colleges and names is probably occurring at Millstein schools to live that he just hasn't come to light ... but you know we know at Stanford on the Allsopp and a similar loan packages ... and you know it's not just these little packets spending it just gonna run a mile ... east on where the show in Wellington license ... looking at Stanford ... I'm a just and there are working on a second athletic center ... and center with declining all badminton courts and the new pool eighty in addition to their four other tools ... I to get any gospel ... it's ... OK ... sunscreen ingredients this ... is great great ICANN is costing them money in discussing since then ... taxpayers and ten cents of style wonderful well from from from New York to California ... the student loans spending spree out of control ... assists in OpinionJournal icon editor Elisa Finlay ... thank so much being on ... show ...